Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following:

	2024		2023		2022
Current Federal	$	17,521	$	13,067	$	13,049
Current State	3,306		1,934		1,763
Deferred Federal	(766)		2,602		1,868
Deferred State	227		156		671
Total	$	20,288	$	17,759	$	17,351

Schedule of Effective Income Tax Rate Reconciliation

Effective tax rates differ from the federal statutory rate of 21% for 2024, 2023 and 2022 applied to income before income taxes due to the following:

	2024		2023		2022
Statutory Rate Times Pre-tax Income	$	21,861	$	21,766	$	20,827
Add (Subtract) the Tax Effect of:
Income from Tax-exempt Loans and Investments	(4,008)		(4,951)		(5,223)
Non-deductible Merger Costs	50		—		177
State Income Tax, Net of Federal Tax Effect	2,782		1,651		1,923
General Business Tax Credits	(1,190)		(1,128)		(1,038)
Amortization of Tax Credit Investments	1,136		1,101		1,040
Company Owned Life Insurance	(432)		(363)		(476)
Other Differences	89		(317)		121
Total Income Taxes	$	20,288	$	17,759	$	17,351

Schedule of Net Deferred Tax Liability

The net deferred tax asset/(liability) at December 31 consists of the following:

	2024		2023
Deferred Tax Assets:
Allowance for Credit Losses	$	11,088	$	10,888
Lease Liability (Operating Leases)	1,121		1,313
Unrealized Loss on Securities	58,803		57,882
Deferred Compensation and Employee Benefits	933		1,026
Other-than-temporary Impairment	246		245
Accrued Expenses	1,248		1,224
Pension and Postretirement Plans	182		182
Other Real Estate Owned	41		41
Non-Accrual Loan Interest Income	355		449
Net Operating Loss Carryforward	488		650
Other	1,046		879
Total Deferred Tax Assets	75,551		74,779
Deferred Tax Liabilities:
Depreciation	(3,095)		(3,416)
Leasing Activities, Net	(13,039)		(12,926)
FHLB Stock Dividends	(432)		(455)
Prepaid Expenses	(136)		(154)
Intangibles	(2,061)		(2,376)
Deferred Loan Fees	(996)		(954)
Mortgage Servicing Rights	(44)		(51)
Right of Use Asset (Operating Leases)	(1,080)		(1,274)
Business Combination Fair Value Adjustments	(640)		(478)
Other	(1,198)		(1,325)
Total Deferred Tax Liabilities	(22,721)		(23,409)
Valuation Allowance	—		—
Net Deferred Tax Asset/(Liability)	$	52,830	$	51,370